MINNEAPOLIS, May 25, 2020 /CNW/ - Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Corporation") today announced that its wholly-owned subsidiary, Delmar Commodities Ltd. ("Delmar"), has entered into agreements to partner with two highly specialized seed companies, Sevita International Corporation ("Sevita") and Horizon Seeds Canada Inc. ("Horizon") to distribute corn and soybean seed products in Western Canada. In combination with these new relationships, Delmar will be rebranding its Legend Seeds Canada trade name to "Ceres Global Seeds" and will no longer be distributing Legend Seeds Inc.'s corn or soybean products.
"By acquiring Delmar less than one year ago, and through the inclusion of its seed and processing division, we made significant progress on our goal to diversify into agriculture-related businesses in regions we know and understand well," said Robert Day, President and Chief Executive Officer of Ceres. "To enhance that diversification, we conducted a rigorous review to identify the best possible seed companies that will allow us to continue delivering superior value to our dealer network and their growers. Our team identified Sevita and Horizon as partners with high-quality products and a strong commitment to service, which is consistent with our corporate vision to be the most trusted and valued partner to quality-conscious customers."
About Sevita International Corporation
Sevita is a Canadian-owned soybean company with a mission to collaborate with farmers to grow the finest varieties while advancing soybean genetics and driving local partnerships throughout Canada. It has a reputation for excellence in terms of genetics, quality and reliability, and its independent research company, Sevita Genetics, is one of the leading developers of soybean varieties in Canada. Sevita commercializes high-performing genetics across all major trait platforms available in soybeans today including but not limited to Roundup Ready 2 Xtend, Enlist E3 and, Non-GMO Food Grade. Sevita also represents Canadian soybeans in high-value markets around the world with proprietary food grade varieties. Sevita works closely with food manufacturers to better understand their unique needs and deliver value to their business.
About Horizon Seeds Canada Inc.
Horizon Seeds is a Canadian owned and operated family seed corn business located in Courtland, ON that focuses on the commercialization of corn hybrids across Canada. With a focus on product performance and customer support, Horizon Seeds has continued to grow and remain a trusted supplier of the Canadian farmer.
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Through its network of commodity logistics centers and team of industry experts, Ceres merchandizes high-quality North American agricultural commodities and value-added products and provides reliable supply chain logistics services to agricultural, energy and industrial customers worldwide.
Ceres is headquartered in Minneapolis, MN and together with its wholly-owned affiliates, operates 12 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate grain and oilseed storage capacity of approximately 30.8 million bushels.
Ceres also has a 50% interest in Savage Riverport, LLC, a joint venture with Consolidated Grain and Barge Co., a 50% interest in Gateway Energy Terminal, an unincorporated joint venture with Steel Reef Infrastructure Corp., a 25% interest in Stewart Southern Railway Inc., a short-line railway located in southeast Saskatchewan with a range of 130 kilometers, and a 17% interest in Canterra Seed Holdings Ltd, a Canada-based seed development company.
Cautionary Notice: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and United States securities laws. Forward-looking information may include but is not limited to, statements regarding the timing and completion of the Private Placement and the proposed use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "intends," "anticipates," "believes" or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would" or "might," "be taken," "occur" or "be achieved." Forward-looking information is based on the opinions and estimates of management at the date the information is made and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Ceres undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
SOURCE Ceres Global Ag Corp.
For further information: Katelynn Thissen, NATIONAL Capital Markets, (416) 848-1427, [email protected]